Follow the author of this article

Follow the topics within this article

The boss of the company behind the Clydesdale and Yorkshire banking brands has insisted the lender's turnaround remains on track despite posting a drop in deposit balances that spurred concerns its recovery has been knocked off course.

David Duffy, the chief executive of CYBG, dismissed worries about the challenger bank's first-half results by blaming City watchers' “lazy analytics”, after its shares dropped as much as 5.7pc to 273.5p amid disappointment with its latest numbers.

Deposits slipped by £667m to £26.3bn between the end of September and the end of March, while revenues edged up just 1pc to £497m compared with a year earlier.